Baker Tech's purchase of CH Offshore shares triggers offer

Singapore

OIL and gas equipment supplier Baker Technology on Thursday made a mandatory unconditional cash offer for all the shares in CH Offshore, a vessel chartering firm, that it does not already own for S$0.13 per share.

This was triggered after it bought 217.8 million shares, representing a 30.9 per cent interest in CH Offshore, at S$0.115 each from the Singapore-listed Falcon Energy Group. It also acquired another 153.8 million shares, representing 21.83 per cent in CH Offshore, for S$0.13 per share from a private company, SZ Offshore Investment.